Tips to find a property bargain

 
3 Keys to snap up a property bargain

When it comes to Property Investing, the Reno Kings insist, "You make your money when you buy". Between them Paul and Geoff have accumulated a property portfolio valued at over $20 million - they should know. So what are the Reno King's "3 keys to snap up a property bargain?"

1. Research : Know your market better than most. Learn to pinpoint the value of property within about 2% by comparing recent sales in the area. Only when you have mastered this will you know for sure when a property is "priced right".

2. Buying Well : Make low offers and make them often. Offer a price for a property that would make it a bargain. Be careful not be "anchored" to the asking price. Buying less than the asking price does not automatically mean you are buying a bargain.

3. Adding Value : If you hope to purchase a number of properties the best way to accelerate your performance is by adding value to your property.  Why wait years to increase the value? The Reno Kings formula is to spend around 5% of the purchase price on a cosmetic makeover and get it done in less than 4 weeks. Make sure the property lends itself to a Reno King "Haircut".

For a more detailed report on "Finding a property bargain" click here

Watch the video from A Current Affair from Wednesday 26 April 2006